Vise Technologies Inc. purchased a new position in shares of Avery Dennison Corporation (NYSE:AVY – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,272 shares of the industrial products company’s stock, valued at approximately $1,412,000.
Other large investors have also made changes to their positions in the company. North Dakota State Investment Board boosted its holdings in Avery Dennison by 2.6% during the third quarter. North Dakota State Investment Board now owns 2,346 shares of the industrial products company’s stock worth $400,000 after buying an additional 59 shares in the last quarter. Brookstone Capital Management lifted its position in shares of Avery Dennison by 4.7% during the 3rd quarter. Brookstone Capital Management now owns 1,440 shares of the industrial products company’s stock valued at $246,000 after acquiring an additional 65 shares during the period. Empirical Finance LLC lifted its position in shares of Avery Dennison by 3.2% during the 2nd quarter. Empirical Finance LLC now owns 2,935 shares of the industrial products company’s stock valued at $476,000 after acquiring an additional 90 shares during the period. Lido Advisors LLC boosted its stake in shares of Avery Dennison by 6.7% during the 1st quarter. Lido Advisors LLC now owns 1,466 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 92 shares in the last quarter. Finally, Eastern Bank boosted its stake in shares of Avery Dennison by 10.0% during the 2nd quarter. Eastern Bank now owns 1,045 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.
Insider Buying and Selling at Avery Dennison
In related news, SVP Nicholas Colisto sold 3,886 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $170.68, for a total transaction of $663,262.48. Following the transaction, the senior vice president directly owned 7,126 shares in the company, valued at approximately $1,216,265.68. This represents a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Andres Alberto Lopez sold 4,000 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $193.80, for a total value of $775,200.00. Following the completion of the sale, the director directly owned 1,147 shares in the company, valued at approximately $222,288.60. The trade was a 77.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is owned by company insiders.
Avery Dennison Price Performance
NYSE:AVY traded down $2.89 during trading hours on Friday, reaching $186.81. 604,340 shares of the company traded hands, compared to its average volume of 655,986. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.16 and a quick ratio of 0.80. The firm’s 50-day moving average is $174.92 and its 200-day moving average is $172.32. The stock has a market cap of $14.16 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.20 and a beta of 0.77. Avery Dennison Corporation has a 1-year low of $152.42 and a 1-year high of $199.54.
Avery Dennison (NYSE:AVY – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.10. Avery Dennison had a net margin of 7.56% and a return on equity of 33.88%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the business posted $2.37 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Equities research analysts expect that Avery Dennison Corporation will post 10.17 earnings per share for the current fiscal year.
Avery Dennison Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, December 2nd. Avery Dennison’s dividend payout ratio is currently 43.29%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on AVY shares. Bank of America reaffirmed a “buy” rating on shares of Avery Dennison in a report on Friday, August 14th. Jefferies Financial Group restated a “hold” rating and issued a $181.00 price target on shares of Avery Dennison in a research report on Monday, September 28th. Wall Street Zen downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Weiss Ratings upgraded shares of Avery Dennison from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Finally, Truist Financial lowered their price objective on shares of Avery Dennison from $209.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.10.
View Our Latest Analysis on Avery Dennison
Avery Dennison Profile
Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company that develops and produces labeling, packaging, graphic, and functional materials. Its products are used by businesses across industries including consumer goods, retail, logistics, apparel, automotive, healthcare, and industrial manufacturing.
The company’s offerings include pressure-sensitive labels and label materials, adhesives, industrial and specialty tapes, graphic films, and packaging materials.
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